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Compute the revised annual depreciation

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Question - On January 1, 2017, the Blossom Company ledger shows Equipment $48,700 and Accumulated Depreciation $18,200. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,200. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value.

Compute the revised annual depreciation.

Reference no: EM131879750

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